August 23, 2007 | Read Time: 1 minute
NEW BOOKS
Not-for-Profit Accounting Made Easy, Second Edition
by Warren Ruppel
With the passage of the Sarbanes-Oxley Act of 2002, more eyes — and more-critical eyes — are looking at nonprofit operations and accounting, writes Warren Ruppel, director of government services at Marks Paneth & Shron, an accounting firm.
“Effective accounting and financial reporting is a key ingredient in withstanding this increased scrutiny and enduring accountability,” he writes.
Mr. Ruppel provides an introduction to financial reporting for nonprofit groups, including practical examples to help people who are not accountants understand accounting laws, forms, and procedures, and he warns of common pitfalls.
Two introductory chapters discuss generally accepted accounting principles, methods of accounting, types of financial statements required of nonprofit groups, and other basic information. The remaining 10 chapters focus on specific nonprofit-accounting topics, including how to record income from donations and investments, issues regarding affiliated for-profit ventures, and figuring out a charity’s financial health.
Mr. Ruppel concludes with a discussion of new and proposed changes in rules for nonprofit accounting, such as efforts to synchronize U.S. accounting principles with international standards, and recent amendments to accounting methods for merged organizations.
Publisher: John Wiley & Sons, 111 River Street, Fourth Floor, Hoboken, N.J. 07030; (201) 748-6000; fax (201) 748-6088; http://www.wiley.com; 238 pages; $29.95; ISBN 978-0-471-78979-6.
